This paper proposes an approach for modeling strategic interactions that incorporates the costs to firms of changing their strategies. The costs associated with strategy modifications, which we term "repositioning costs," constitute a defining feature of strategic choice, which is particularly relevant to interactions involving grand strategies. Repositioning costs can critically affect competitive dynamics by making strategies "sticky" and, consequently, the implications of strategic interaction for strategic choice. And yet, while the organization and strategy literatures broadly recognize the importance of repositioning costs, game-theoretic treatments at the grand-strategy level with very limited exceptions have not focused on them. In this paper we argue for greater recognition of repositioning costs, provide a repositioning cost typology, and demonstrate the fertility of this approach with a simple model of inter-firm competitive interaction in which repositioning costs increase with the length of time that a firm has been executing its current strategy.

Jaipur Literature Festival (JLF), dubbed "the greatest literary show on earth" was an annual event held in late January at the Diggi Palace in Jaipur. JLF provided a platform for international authors and Indian language authors from the subcontinent to engage in a literary dialogue. By 2011, JLF attracted the largest festival audience in the Asian Pacific region with approximately 60,000 visitors from 24 countries. It featured 224 speakers in 140 sessions, and 100 musicians in 20 concerts. Success had already changed the character of the festival from the earlier more intimate days and had created a momentum that, if not managed correctly, could compromise goals such as the democratic ethos of the festival. While JLF had achieved explosive growth and critical success, its expenses still exceeded its revenue. Could JLF find an organizational and financial "template" which could sutain the festival into the future?